Valuepoint will take EY's help to raise Rs 150 crore

BENGALURU: Small IT services company Valuepoint has hired consultants as it looks to raise over Rs 150 crore to fund its next round of growth, the company’s top executive said. Valuepoint, which was founded in 1991, has over 1,500 employees and about Rs 500 crore in revenue a year.

“We are looking at the next round of growth. So we are looking at raising funds to expand into the US and European markets because digital technologies is creating opportunities for us,” RS Shanbag, the founder of Valuepoint Systems, told ET. Shanbag said the company had tasked consultancy EY to help it raise the funding Valuepoint has already appointed a head for its US business. In April, it appointed Ravi Shelvankar as president and co-owner of its US operations. Shelvankar has worked at Wipro, Infosys and CSS Corp. His last role was executive vice president and chief business officer at CSS Corp. He left that role in March 2017.

Shanbag said the company had had initial talks with both venture capital companies and some strategic investors. “We have had some talks. There are some Chinese and Japanese strategic players that are also showing interest in the India market.”